I cannot afford to pay my Debts – What Options Do I Have?

Many are worrying “they can’t repay Debts” and what solutions there are?

Affected by Covid-19?

If you owe creditors you can make arrangements to pay your debts.

Your debt solutions depend on the amount of money and assets you have.

Types Of Debts

There are many types of creditors you might owe money to.

Catalogue Debt

Catalogues are

Credit Card Debt

Credit cards are

Overdraft Debt


Payday Loan


Guarantor Loan



Debt Solutions

You can pay your debts in instalments by setting up:

  • Debt Management Plan which is an agreement with your creditors managed by a financial company
  • an Administration Order when you’ve had a county court judgment (CCJ) or a High Court judgment (HCJ) against you for debts under £5,000
  • an Individual Voluntary Arrangement which is managed by an insolvency practitioner

You can apply for a Debt Relief Order or Bankruptcy Order if you cannot pay your debts because you do not have enough money or assets you can sell.

In Scotland, you can arrange a Debt Payment Programme from the Debt Arrangement Scheme.

You may also have the option of reaching an informal agreement with your creditors.


There are many options for your debt troubles and it is always best to speak with a debt advisor.

All phonecalls are no obligation and private for peace of mind.